Broadstone Net Lease, Inc. (NYSE:BNL) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.67.

Several analysts have recently issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Cantor Fitzgerald lifted their target price on Broadstone Net Lease from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, July 31st. The Goldman Sachs Group boosted their target price on Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Saturday, August 1st. BMO Capital Markets upped their price target on Broadstone Net Lease from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, Weiss Ratings downgraded Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th.

Broadstone Net Lease Stock Down 2.2%

Broadstone Net Lease stock opened at $16.80 on Thursday. The firm has a market cap of $3.22 billion, a PE ratio of 22.11 and a beta of 0.91. Broadstone Net Lease has a 52-week low of $16.72 and a 52-week high of $23.10. The company’s 50 day moving average is $19.30 and its two-hundred day moving average is $19.86.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $121.87 million during the quarter, compared to analysts’ expectations of $122.19 million. Broadstone Net Lease had a net margin of 30.61% and a return on equity of 4.83%. On average, equities research analysts anticipate that Broadstone Net Lease will post 1.51 earnings per share for the current fiscal year.

Insider Activity at Broadstone Net Lease

In related news, Director Richard Imperiale acquired 5,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $21.22 per share, with a total value of $106,100.00. Following the completion of the transaction, the director owned 26,250 shares in the company, valued at $557,025. This represents a 23.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new stake in shares of Broadstone Net Lease in the 2nd quarter valued at about $2,049,000. California State Teachers Retirement System increased its position in Broadstone Net Lease by 30.2% during the first quarter. California State Teachers Retirement System now owns 236,627 shares of the company’s stock worth $4,323,000 after buying an additional 54,892 shares during the period. Quantinno Capital Management LP lifted its stake in Broadstone Net Lease by 164.8% in the first quarter. Quantinno Capital Management LP now owns 91,618 shares of the company’s stock valued at $1,674,000 after buying an additional 57,021 shares during the last quarter. Amundi lifted its stake in Broadstone Net Lease by 1,115.8% in the second quarter. Amundi now owns 1,094,174 shares of the company’s stock valued at $22,617,000 after buying an additional 1,004,177 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Broadstone Net Lease in the second quarter valued at approximately $32,978,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.